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2013 (9) TMI 1150 - HC - Income TaxDeduction u/s. 10A - whether to be allowed first before setting off unabsorbed loss and depreciation of non-eligible business unit of the assessee ? - Held that:- The deduction under section 10A, in our view, has to be given effect to at the stage of computing the profits and gains of business. This is anterior to the application of the provisions of section 72 which deals with the carry forward and set off of business losses. What the Revenue in essence seeks to attain is to telescope the provisions of Chapter VI-A in the context of the deduction which is allowable under section 10A, which would not be permissible unless a specific statutory provision to that effect were to be made. In the absence thereof, such an approach cannot be accepted. In the circumstances, the decision of the Tribunal would have to be affirmed since it is plain and evident that the deduction under section 10A has to be given at the stage when the profits and gains of business are computed in the first instance See Black & Veatch Consulting (P.) Ltd. [2012 (4) TMI 450 - BOMBAY HIGH COURT ]
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